Freeport-McMoRan 2007 Annual Report Download - page 75

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Financial & Operating Information 73
Consolidated Statements of Stockholders’ Equity
Convertible Perpetual Mandatory Convertible Accumulated Other Common Stock
Preferred Stock Preferred Stock
Common Stock
Capital in Comprehensive Held in Treasury
Number of At Par Number of At Par Number of At Par Excess of Retained Income Number Stockholders’
Shares Value Shares Value Shares Value Par Value Earnings (Loss) of Shares At Cost Equity
(In Millions)
Balance at January 1, 2005 1 $ 1,100 – $ – 285 $ 29 $ 1,853 $ 605 $ 11 106 $ (2,434) $ 1,164
Conversions of 7% Convertible Senior Notes – – – – 8 1 246 – – – – 247
Exercised stock options, issued restricted
stock and other – – – – 4 – 95 – – – – 95
Tax benefit for stock option exercises – – – – – – 18 – – – – 18
Tender of shares for exercised stock
options and restricted stock – – – – – – – – – 2 (82) (82)
Shares purchased – – – – – – – – – 2 (80) (80)
Dividends on common stock – – – – – – – (454) – – – (454)
Dividends on preferred stock – – – – – – – (60) – – – (60)
Comprehensive income (loss):
Net income – – – – – – – 995 – – – 995
Other comprehensive income (loss), net of taxes:
Change in unrealized derivatives’ fair value – – – – – – – – – – – –
Reclassification to earnings – – – – – – – – $ 1– – – 99–
Other comprehensive income – – – – – – – – $ 1– – – 99–
Total comprehensive income – – – – – – – – – – – 995
Balance at December 31, 2005 1 $ 1,100 – $ – 297 $ 30 $ 2,212 $ 1,086 $ 11 110 $ (2,596) $ 1,843
Conversions of 7% Convertible Senior Notes – – – – 10 1 311 – – – – 312
Exercised stock options, issued restricted stock
and other – – – – 3 – 93 – – – – 93
Stock-based compensation costs – – – – – – 28 – – – – 28
Tax benefit for stock option exercises – – – – – – 24 – – – – 24
Tender of shares for exercised stock options
and restricted stock – – – – – – – – – 1 (53) (53)
Shares purchased – – – – – – – – – 2 (100) (100)
Cumulative effect adjustment to initially
apply EITF 04-6 – – – – – – – (149) – – – (149)
Dividends on common stock – – – – – – – (918) – – – (918)
Dividends on preferred stock – – – – – – – (61) – – – (61)
Comprehensive income (loss):
Net income – – – – – – – 1,457 – – – 1,457
Other comprehensive income (loss), net of taxes:
Change in unrealized derivatives’ fair value – – – – – – – – (9) – – (9)
Reclassification to earnings – – – – – – – – $ 14 – – $ 14
Other comprehensive income (loss) – – – – – – – – $ 1 (5) – – $ 1(5)
Total comprehensive income – – – – – – – – – – – $ 1 1,452
Adjustment for adoption of SFAS No. 158 – – – – – – – – (26) – – (26)
Balance at December 31, 2006 1 $ 1,100 – $ – 310 $ 31 $ 2,668 $ 1,415 $ (20) 113 $ (2,749) $ 2,445
Sale of 6 3/4% Mandatory Convertible Preferred Stock – – 29 2,875 – – (72) – – – – 2,803
Common stock issued to acquire Phelps Dodge – – – – 137 14 7,767 – – – – 7,781
Sale of common stock – – – – 47 5 2,811 – – – – 2,816
Conversion of 7% Convertible Senior Notes – – – – – – 6 – – – – 6
Exercised stock options, issued restricted stock and other – – – – 3 – 131 – – – – 131
Stock-based compensation costs – – – – – – 86 – – – – 86
Tax benefit for stock option exercises – – – – – – 10 – – – – 10
Tender of shares for exercised stock options and
restricted stock – – – – – – – – – 1 (92) (92)
Cumulative effect adjustment to initially apply FIN 48 – – – – – – – 4 – – – 4
Dividends on common stock – – – – – – – (587) – – – (587)
Dividends on preferred stock – – – – – – – (208) – – – (208)
Comprehensive income (loss):
Net income – – – – – – – 2,977 – – – 2,977
Other comprehensive income (loss), net of taxes:
Unrealized gain on securities – – – – – – – – 2 – – 2
Translation adjustment – – – – – – – – (3) – – (3)
Change in unrealized derivatives’ fair value – – – – – – – – (3) – – (3)
Reclassification to earnings – – – – – – – – 7 – – 7
Defined benefit pension plans:
Net gain during period – – – – – – – – 53 – – 53
Amortization of unrecognized amounts – – – – – – – – 6 – – 6
Other comprehensive income – – – – – – – – 62 – – 62
Total comprehensive income – – – – – – – – – – – 3,039
Balance at December 31, 2007 1 $ 1,100 29 $ 2,875 497 $ 50 $ 13,407 $ 3,601 $ 42 114 $ (2,841) $ 18,234
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.